NDB pledges to equip farmers with financial literacy
Monday, February 19, 2024 | 290 Views |
National Development Bank
Last week ,during a financial wellness webinar, officials of the bank stressed the importance of right financial practice as a pre-requisite for farmers to benefit from Temo Letlotlo, which is a new arable farming programme that replaced ISPAAD. NDB CEO, Ozone Madisa, stated that as a developmental bank, they will play a more progressive role in the next financial year (2024-25).
She said in this matrix, they will inspire farmers to understand the financial part of farming, which is pivotal to their success on the farm and overall aim of feeding the nation. “There is only one thing that can bring down the nation’s dependency on other nations for food and energy.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...